After the Bell: Dow Slips 11 Point and All the Good News May Already Be In the Market By Ben Levisohn Updated April 27, 2018 8:14 p.m. ET TheDow Jones Industrial Averagejust can't seem to build on a good thing. ILLUSTRATION:BLOOMBERG NEWS After gaining more than 200 points yesterday, theDow Jones Industrial Averagedeclined 11.15 points to 24,311.19 today to finish the week off 151.75 points, or 0.6%. TheNasdaq Compositedropped 0.4% this week after finishing little changed at 7119.80 today. TheS&P 500finished the week little changed this week after advancing 0.1% to 2669.91 today. The story remains unchanged this week. Company beats earnings. Company stock rises. Stock gives back gains. "This suggests that the relentless rally in 2017 and in January of 2018 was discounting this phenomenon," writesTodd Market Forecast's Stephen Todd. "But, earnings for the remainder of the year are also expected to be very strong and we do not believe that has been discounted." It hasn't helped thatthe 10-year bond yield finally broke 3% this week, even if it closed Friday at 2.959%. Rising rates really shouldn't be a problem for the stock market, but clearly they are.JPMorgan's John Normandnotes that before this year, only one of the ten largest bond selloffs in the 1o-year Treasury resulted in stock market weakness during the last fifteen years. "Not eventhe 2013 taper tantrum's130bp rise in rates triggered equity market performance as bad as this year’s," he explains. Not that it's mattered. This backdrop comes as the calendar is about to flip from April to May--when we're supposed tosell and go away. Monday's trading could help determine if the next six months are sweet or sour for the S&P 500. When the index ends April in the green for the year, stocks have rallied during the May through October period 74% of the time, writesSundial Capital Research's Jason Goepfert. When it was in the red, the S&P 500 dropped 56% of the time. Ouch. "One day should not make or break the next six months, and it won’t," Goepfert explains. "But there has been a marked difference in how the S&P does during the worst six months depending on whether it enters that period with a positive or negative return from December through April." Happy Monday? https://www.barrons.com/articles/af...good-news-is-already-in-the-market-1524872172
I was about to start a thread about this. somebody saved me alot of typing. look at all the major stocks that reported last week and almost all put up major sell signals. Happy Monday?... Quite possibly if it turns out to be " Black Monday ".